How can you determine a fair severance package?
If you are leaving your job, whether voluntarily or involuntarily, you may be offered a severance package as part of your exit agreement. A severance package is a combination of pay and benefits that you receive when you end your employment with an organization. It may include compensation for unused vacation or sick days, health insurance coverage, retirement benefits, outplacement services, and other items. But how can you determine if the severance package you are offered is fair and reasonable? Here are some tips to help you negotiate a satisfactory severance package.